Reinsurance News

Climate change will create challenges and also opportunities for the property & casualty insurance and reinsurance industry, according to rating agency Moody’s. However the threats presented by a changing climate are likely greater and Moody’s says this has a “net negative credit impact on the industry.”

Executives from Lloyd’s of London said today that they welcome and want to work with the UK Government’s new insurance-linked securities (ILS) regulatory and tax framework, but at the same time warn that the UK ILS regulation is actually likely to increase the price pressures that its market participants face.

The market should not expect any “significant changes” to the reinsurance business of Bermudian re/insurer XL Group after the acquisition by French giant AXA is completed, according to CEO of Reinsurance Charles Cooper in a letter to the firms broker community.

Paul Rayner, most recently with capital markets reinsurance brokerage unit GC Securities, has been hired by insurance sector investor Paraline Group, taking a seat on its board and being named as the new active underwriter for its Paraline Syndicate 4242 and SPA 6123.

If you thought that the Lloyd’s of London insurance and reinsurance market had changed in the last decade, it’s likely nothing compared to the change we will see over the coming years, as the world’s oldest re/insurance market accepts the fact its model has become unsustainable.

We’re delighted to announce that registration is now open and tickets are on sale for the third installment of our annual insurance-linked securities (ILS) conference in Asia, ILS Asia 2018. The event will be held on July 12th 2018 at the Suntec Convention Centre, Singapore.

Global reinsurance broker and risk capital advisor Aon Benfield has hired Matthias Meyenhofer to become the firms CEO of its Bermuda operations and has made other changes to strengthen its leadership on the island.

Welcome to the Artemis ILS New York 2018 post-conference report, which provides insight into some of the debates that took place between speakers and attendees during Artemis’ second event in the United States.

The Pacific Catastrophe Risk Insurance Company (PCRIC), a parametric insurance facility for the Pacific Island nations which is supported by the World Bank and others, is hoping to expand its risk pool with the addition of new members and also through the creation of new risk transfer products.

According to data from rating agency A.M. Best, the United States property & casualty insurance and reinsurance sector suffered a record level of losses from the 2017 catastrophe events, with insured losses of roughly $53 billion driving the sector to an underwriting loss of $23.5 billion for the year.